Tantech Holdings Ltd (NASDAQ:TANH) Short Interest Up 185.2% in May

Tantech Holdings Ltd (NASDAQ:TANH – Get Rating) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 17,400 shares, a growth of 185.2% from the April 30th total of 6,100 shares. Based on an average daily volume of 121,700 shares, the short-interest ratio is currently 0.1 days. Currently, 0.8% of the shares of the company are sold short.

Tantech Stock Performance

TANH traded down $0.04 during trading on Friday, reaching $2.28. 17,262 shares of the company’s stock were exchanged, compared to its average volume of 102,389. Tantech has a 1 year low of $1.62 and a 1 year high of $11.84. The company’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $2.44.

Hedge Funds Weigh In On Tantech

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Tantech during the 1st quarter valued at approximately $88,000. Millennium Management LLC purchased a new position in shares of Tantech during the 2nd quarter valued at approximately $61,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Tantech during the 1st quarter valued at approximately $185,000.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Tantech in a research note on Wednesday. They issued a “sell” rating for the company.

Tantech Company Profile

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Tantech Holdings Ltd. engages in the development and manufacture of bamboo-based charcoal products. It operates through the following segments: Consumer Product, Trading, and Electric Vehicle. The Consumer Product segment includes purification and deodorization products, cleaning products, and barbecue charcoals designed for the domestic market that are sold under the brand name Charcoal Doctor.